<br><div><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__bv"/><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__bvd gnt_x__h"/><aside class="gnt_em gnt_em__fp gnt_em_vp__tp gnt_em__el" aria-label="Video - President Trump, Gov. Newsom tour fire ravaged areas of Los Angeles"><div class="gnt_em_vp_w" data-g-r="vp_tp" data-c-vt="exco" data-t-pl="teal-hero"><button class="gnt_em_vp_a gnt_em_vp__tp_a" data-g-r="vp_ap vp_tg" data-c-vpattrs="{"muted":true,"bContent":false,"an":"usatoday","pn":"USA TODAY","vidNum":0,"docking":true,"exid":"7a94a662-d8e9-49a7-aeba-e8a15c79f0f2","plcmt":"2","iu":"/7103/usatoday/preroll_video/","cut":1}" data-c-vpdata="{"adsEnabled":true,"awsPath":"news/politics","byline":"Ariana Triggs","canonicalURL":"","contentSourceCode":"REUT","credit":"","duration":65000,"headline":"President Trump, Gov. 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Gavin Newsom in Los Angeles to tour areas hit by the deadly wildfires.","propertyName":"USATODAY","series":"","ssts":{"section":"news","subsection":"politics","topic":"","subtopic":""},"tags":[{"id":"26f031d1-9924-4f10-b4e6-019d076113d5","name":"Donald Trump"},{"id":"ab357ec1-043a-460d-a11c-f9e521b2ffaa","name":"Gavin Newsom"},{"id":"9fd8a649-1f34-44c2-8e05-c5b055a706d2","name":"California Wildfires"},{"id":"12cc5543-9f04-49f7-9b7f-d0d46b93b8e0","name":"VPC - Video Analytics"},{"id":"6f55135f-3b5e-490d-8a52-a3b8e1f11ee7","name":"Video Syndication - USAT"},{"id":"16fe9f9b-4247-4e2e-a73c-9fac5b14d01b","name":"Video Syndication - OTT Platforms"}],"title":"Trump greeted by Newsom in Los Angeles ahead of wildfires tour","url":"/videos/news/politics/2025/01/24/trump-greeted-by-newsom-in-los-angeles-ahead-of-wildfires-tour/77938701007/"}" aria-label="Play video"><img alt="" class="gnt_em_vp_img" src="https://www.usatoday.com/gcdn/authoring/authoring-images/2025/01/27/USAT/77965842007-usatsi-24545382.jpg?crop=2999,1687,x0,y0&width=660&height=371&format=pjpg&auto=webp" data-g-r="vp_po" fetchpriority="high" elementtiming="ar-lead-image" decoding="async"/><svg class="gnt_em_vp_svg"><use xlink:href="#gnt_svg_video_play"/></svg></button></div></aside><p class="gnt_ar_b_p"><em><strong>Corrections & Clarifications:</strong> An earlier version of this story misstated the average home insurance figures for a $300,000 home in California, Texas and Florida as monthly figures. They were annual. </em></p><p class="gnt_ar_b_p">The devastating Los Angeles fires have been a grim reminder of America’s homeowners insurance crisis as climate change intensifies potential property damage and insurers scramble to price rising risk.</p><p class="gnt_ar_b_p">Consider: From 2000 to about 2013, insurance costs made up 7% to 8% of the typical mortgage payment. But starting in about 2013, premiums surged. As of 2022, insurance costs made up more than 20% of the typical mortgage payment, according to data from analytics provider First Street.</p><p class="gnt_ar_b_p">Yet at the same time, underwriting profits for homeowners insurance companies have been negative nearly every year from 2017 to 2023, according to a recent <a target="_blank" href="https://home.treasury.gov/system/files/311/Analyses_of_US_Homeowners_Insurance_Markets_2018-2022_Climate-Related_Risks_and_Other_Factors_0.pdf" data-t-l=":b|z|k|${u}" class="gnt_ar_b_a">report from the U.S. Treasury</a>. “The paid loss ratio − which includes significant losses from climate-related events − was the primary determinant of overall underwriting profitability for insurers in this period,” the report concluded.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">“We have the reality of climate change, the inconvenient truth that it’s not just some conceptual political debate. It’s having an impact and insurance is one of the places where we are starting to feel the pain,” said Amy Bach, executive director of the national consumer advocacy group United Policyholders. “Yes, we are in a crisis.”</p><p class="gnt_ar_b_p"><strong>Pay less to protect your home:</strong> <a target="_blank" target="_blank" rel="noopener sponsored" data-t-l=":body nav (hom)|e|auto spike click:6|${u}" class="gnt_ar_b_a" href="https://www.usatoday.com/money/blueprint/home-insurance/best-homeowners-insurance-companies/">Best home insurance policies</a></p><p class="gnt_ar_b_p"><strong...</strong></p></div> <style> .wrapper { text-align: center; } </style> <div class="wrapper"> <a class="button" href ="https://www.usatoday.com/story/money/personalfinance/real-estate/2025/01/27/homeowners-insurance-crisis-states/77775382007/">Read more <span>➤</span></a> </div>
